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Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid

Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid »

Source: Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid

Volume/Issue: 2019/126

Series: IMF Working Papers

Author(s): Ioana Moldovan , Shu-Chun Susan Yang , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2019

ISBN: 9781498312110

Keywords: Absorptive capacity, Private consumption, Real interest rates, Government consumption, Public goods, aid, fiscal policy, foreign exchange intervention, optimal policy, low-income countries.

This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical features of lo...

Fiscal Consolidation and Public Wages

Fiscal Consolidation and Public Wages »

Source: Fiscal Consolidation and Public Wages

Volume/Issue: 2019/125

Series: IMF Working Papers

Author(s): Juin-Jen Chang , Hsieh-Yu Lin , Nora Traum , and Shu-Chun Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2019

ISBN: 9781498316835

Keywords: Public sector wages, Real interest rates, Income tax revenue, Wage policy, Consumption taxes, public wage, fiscal consolidation, government spending, fiscal policy, New Keynesian model

A New Keynesian model with government production, public compensation, and unemployment is fit to U.S. data to study the macroeconomic and fiscal effects of public wage reductions. We find that accounting for the t...

Investment and Growth in the Arab World - A Scoping Note

Investment and Growth in the Arab World - A Scoping Note »

Source: Investment and Growth in the Arab World - A Scoping Note

Volume/Issue: 2016/010

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 2016

ISBN: 9781498345682

Keywords: Cooperation Council for the Arab States of the Gulf, Economic growth, Employment, Fiscal reforms, Investment, Labor markets, Middle East and Central Asia, Private investment, Public investment, Consumption

Enhancing public and private investment, but also ensuring that this translates into higher growth and employment, have long been key policy challenges in Arab countries. Reflecting an improvement in policies and g...

The Negative Mean Output Gap

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The Negative Mean Output Gap »

Source: The Negative Mean Output Gap

Volume/Issue: 2019/183

Series: IMF Working Papers

Author(s): Shekhar Aiyar , and Simon Voigts

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 2019

ISBN: 9781513511740

Keywords: Accounting systems, Bank rates, Bond yields, Business cycles, Capital, Capital stocks, Central banking, Central banks, Consumption, Cost of capital

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns...

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues »

Source: High Level Status Report to the IEO Evaluation of Fund's Recurring Issues

Volume/Issue: 2017/012

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2017

ISBN: 9781498347044

Keywords: Absorptive capacity, Accounting, Accounting systems, Agricultural subsidies, Agriculture, Anti-money laundering, Arrears policy, Balance sheets, Budgeting, Budgets

This is a high-level report on progress in addressing recurring issues identified by the Independent Evaluation Office (IEO). The Board endorsed the proposal in the Chairman's Summing Up for the Independent Evaluat...

Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid

Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid »

Volume/Issue: 2019/126

Series: IMF Working Papers

Author(s): Ioana Moldovan , Shu-Chun Susan Yang , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2019

DOI: http://dx.doi.org/10.5089/9781498312110.001

ISBN: 9781498312110

Keywords: Absorptive capacity, Private consumption, Real interest rates, Government consumption, Public goods, aid, fiscal policy, foreign exchange intervention, optimal policy, low-income countries.

This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical features of lo...

Fiscal Consolidation and Public Wages

Fiscal Consolidation and Public Wages »

Volume/Issue: 2019/125

Series: IMF Working Papers

Author(s): Juin-Jen Chang , Hsieh-Yu Lin , Nora Traum , and Shu-Chun Susan Yang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2019

DOI: http://dx.doi.org/10.5089/9781498316835.001

ISBN: 9781498316835

Keywords: Public sector wages, Real interest rates, Income tax revenue, Wage policy, Consumption taxes, public wage, fiscal consolidation, government spending, fiscal policy, New Keynesian model

A New Keynesian model with government production, public compensation, and unemployment is fit to U.S. data to study the macroeconomic and fiscal effects of public wage reductions. We find that accounting for the t...

Investment and Growth in the Arab World - A Scoping Note

Investment and Growth in the Arab World - A Scoping Note »

Volume/Issue: 2016/010

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 February 2016

DOI: http://dx.doi.org/10.5089/9781498345682.007

ISBN: 9781498345682

Keywords: Cooperation Council for the Arab States of the Gulf, Economic growth, Employment, Fiscal reforms, Investment, Labor markets, Middle East and Central Asia, Private investment, Public investment, Consumption

Enhancing public and private investment, but also ensuring that this translates into higher growth and employment, have long been key policy challenges in Arab countries. Reflecting an improvement in policies and g...

The Negative Mean Output Gap

New
The Negative Mean Output Gap »

Volume/Issue: 2019/183

Series: IMF Working Papers

Author(s): Shekhar Aiyar , and Simon Voigts

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 2019

DOI: http://dx.doi.org/10.5089/9781513511740.001

ISBN: 9781513511740

Keywords: Accounting systems, Bank rates, Bond yields, Business cycles, Capital, Capital stocks, Central banking, Central banks, Consumption, Cost of capital

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns...

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues

High Level Status Report to the IEO Evaluation of Fund's Recurring Issues »

Volume/Issue: 2017/012

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2017

DOI: http://dx.doi.org/10.5089/9781498347044.007

ISBN: 9781498347044

Keywords: Absorptive capacity, Accounting, Accounting systems, Agricultural subsidies, Agriculture, Anti-money laundering, Arrears policy, Balance sheets, Budgeting, Budgets

This is a high-level report on progress in addressing recurring issues identified by the Independent Evaluation Office (IEO). The Board endorsed the proposal in the Chairman's Summing Up for the Independent Evaluat...